West Virginia Code 33-26-13 – Prevention of insolvencies
Current as of: 2023 | Check for updates
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To aid in the detection and prevention of insurer insolvencies:
Terms Used In West Virginia Code 33-26-13
- Association: means the West Virginia Insurance Guaranty Association created under section six of this article. See West Virginia Code 33-26-5
- Commissioner: means the Insurance Commissioner of West Virginia. See West Virginia Code 33-26-5
(1) The board of directors may, upon majority vote, make recommendations to the commissioner on matters generally related to improving or enhancing regulation for solvency.
(2) At the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, the board of directors may, upon majority vote, prepare a report on the history and causes of the insolvency, based on the information available to the association and submit the report to the commissioner.
(3) Reports and recommendations provided under this section may not be considered public documents subject to disclosure under chapter twenty-nine-b of this code.